Class Warrior
By Harold Meyerson
Wednesday, June 9, 2004
Ronald Reagan changed America, and -- with all due deference to his dedication to principle, his indomitable spirit, his affability -- not for the better.
Historians will argue how much credit Reagan deserves for the ratcheting down of the Cold War and the collapse of the Soviet Union. By any measure he surely merits some, even if he spent the better part of his presidency ratcheting the Cold War up.
But however much Reagan helped wind down the Cold War abroad, he absolutely revived class war here at home. Slashing taxes on the rich, refusing to raise the minimum wage and declaring war on unions by firing air traffic controllers during their 1981 strike, Reagan took aim at the New Deal's proudest creation: a secure and decently paid working class. Broadly shared prosperity was out; plutocracy was dug up from the boneyard of bad ideas. The share of the nation's wealth held by the wealthiest 1 percent of Americans rose by 5 percent during Reagan's presidency, while virtually everyone else's declined.
You need look no further than the current recovery to see Reagan's lasting effect on our economy. Corporate profits have been rising handsomely for the past couple of years, at roughly a 30 percent annual rate. But over two years into the recovery, wages are limping along at roughly the rate of inflation, gaining 1 to 2 percent annually. With the percentage of American workers who belong to unions -- 12 percent overall and just 8 percent in the private sector -- having sunk to its lowest level since before FDR, is it any wonder that wages are stuck? ...
<http://www.washingtonpost.com/wp-dyn/articles/A26543-2004Jun8.html>
Carl
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